A new world, a new leadership

TOI – A new world, a new leadership by David Brooks

The Daily Bell – Failure of Economic Happy Talk

Dominant Social Theme: It’s the best of all worlds, but not enough people realize it.

Free-Market Analysis: Everybody’s favorite “liberal” neocon David Brooks is back with another cheery analysis of The Way Western Economies Work. We have read this sort of thing before and on the surface it sounds very convincing. One can cherry-pick statistics to make it sound as if the Western world (and the larger globe) is progressing nicely.

This is not quite the case. We would argue that the world is in a bad way and getting worse. The EU is involved in a slow-motion collapse and the American economy – once the driver of the world – is not in much better shape. The BRIC countries are doing considerably better but both China and India…

2 Responses to A new world, a new leadership

  • I found the Daily Bell article rather strange. It seems to be arguing that central banks are really bad. Yet what it says is that if you have a central bank, your life expectancy will double and per capita income will increase a hundredfold, but that after a hundred or so years you will have a big recession, growth will slow, and you’ll have high unemployment. That is not an argument against central banking; it is, in fact, an argument for central banking being one of the most beneficial institutions of all time.

  • Here are my observations.
    1. The video is very cool.
    2. To get a better feel for The Daily Bell I would refer you to their Exclusive Interviews. They are doing some good work.
    3. Regarding abolishing the Fed I am most concerned about the national threat this would create. Military innovation would be greatly hampered by not having proper funding. Other countries with a central bank could properly innovate and grow their military forces. A situation like this would risk our national security. That’s just one example I could give you.

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